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Uncertainty saps business confidence in exports

Uncertainty saps business confidence in exports

Also on KPMG.com

Describing today’s trade figures from the ONS, David Slater, Director of Trade at KPMG UK said:

“Overall the last 12 months have been a buoyant time for UK’s exporters. However, in the final run up to Brexit, with a stronger pound and uncertainty around the UK’s future trading relationship now sapping business confidence, export volumes in both goods and services fell in the first quarter of this year. Warnings about using UK suppliers issued by the European Commission earlier this year won’t have helped confidence in British exports either.

“An increase in the export of UK services is highlighted as having helped narrow the overall trade deficit over the last 12 months, underlining the importance of our service sector as a key driver of economic growth. Going forward, policy makers will want to prioritise services in any Free Trade Agreement.“

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